Entrepreneurship and Small Business Tips
Calling all Social Entrepreneurs! Being a social entrepreneur means you are passionate about a cause. In addition, you must be passionate about leading a business.
Nonprofit, forprofit, hybrid, you’ll want to run your organization with supreme efficiency. How you execute determines how effective you are in delivering your product or service. In this case, your product is serving the community — be it addressing global poverty, energy efficiency, organic farming, solar solutions, electric cars, or socially conscious travel. So let’s get started on some quick tips to help make you and all entrepreneurs the best they can be — so we can deliver excellence to our clients all across the world.
What’s Your Creative New Business Idea?
Asked by Mike Michalowicz, The Toilet Paper Entrepreneur
December 29, 2009
Fly Me To Work
I’d like to commute above. If I could, I’d don a jet pack that could allow me to rise above the traffic and fly to work. If people are paying as individuals to fly into space, then we will be able to fly into work.
It’d have to be ecofriendly. If it polluted more, then you’d have to pay 100x more than it takes to commute via car or public transportation.
I love the wind, air, nature and views. And I’d pay to not be sitting in a car!
What Do You Predict for 2010?
Asked by Mike Michalowicz, The Toilet Paper Entrepreneur
December 8, 2009
Be the Good News
It’s seems it negative or slow growth news these days. I say don’t join this crowd.
Be the good news. Make someone’s life better by a small innovation. People want to reward meaning. They will pay for a sincere product, especially if they trust you. Focus on making these connections.
My prediction is that people will gravitate towards honest entrepreneurs who they can touch. People who will provide a relevant service. People they can talk to. Be someone’s good news.
What Would Your Significant Other Say To You re: Your Business?
Asked by Mike Michalowicz, The Toilet Paper Entrepreneur
November 23, 2009
More Than OK
Most times in business, “OK” is the enemy. It has no special ring to it. It has no quality, no differentiator, no enthusiasm behind it. But here, I think my spouse would say “It’s more than OK. It’s great you are positive; that you care so much. And it’s fine, it’s more than OK, to rest a bit. It’s OK to take time for yourself, your family, your books, a walk, or quiet time by the fire. In fact…It’s necessary to being the kind and giving person you want to be.
It’s more than OK.”
What Book Do You Recommend for Women Entrepreneurs?
Asked by Mike Michalowicz, The Toilet Paper Entrepreneur
November 20, 2009
The Leader of the Future
Frances Hesselbein was a mentee of Peter Drucker. This 90-something leader is still going strong, speaking internationally, and helping women leaders and entrepreneurs all over the world. Here is the must-read:
The Leader of the Future by Frances Hesselbein, written with Marshall Goldsmith
She’s inspiring and practical; there is no end to her energy!
What is Your Best Tip on Guerilla Marketing?
Asked by Mike Michalowicz, The Toilet Paper Entrepreneur
November 3, 2009
Empower Interns!
College and young professionals appreciate getting true on the ground experience. With a solid manual and practical activities, interns can do a lot of legwork and outreach for you. We’ve had interns as young as 19 outreach to journalists and attain blog links and interviews.
Do make sure that the interns are getting great professional experience. For those proven, meet with them and help them with their career path. You can also offer to write a letter of recommendation.
How Can an Entrepreneur Achieve Their First Million?
Asked by Mike Michalowicz, The Toilet Paper Entrepreneur
October 20, 2009
No Quick Way to Quality
You want your first million.
There’s no quick way to it, if you want it to last. No quick way to quality relationships, which means you want your first million to remain continued, returning revenue.
So do your best to find the right partners, who are focused on the same values as you. They want a long-term relationship and mutual win-win, too.
Find this “type of million” — and you’ll soon be closing, and maintaining, your next million.
It’s not about the money. It’s about the relationship.
How Can You Get Free Entrepreneurial Support?
Asked by Mike Michalowicz, The Toilet Paper Entrepreneur
October 1, 2009
Go Get a Quick Advanced Degree
I’d get an advanced degree at Harvard, pronto. That’s what I do.
Harvard Business School Publishing Society lists a host of articles, blogs, thought leaders on super subjects. Some are philosophical, but many are practical, on the ground tips.
Go get a second degree by studying the thought and recommendations of Harvard professors, guest speakers, entrepreneurs, who freely share their wealth of wisdom. We’re fortunate they do so!
How Can You Embrace Competitors You Once Wanted to Destroy?
Asked by Mike Michaolowicz, The Toilet Paper Entrepreneur
September 17, 2009
Competitor! Wait, Collaborator?
I don’t ever wish to destroy my competition.
Your competitors demonstrate there is a market need. Be grateful there is a need for your service.
Think of your competitor as someone you might collaborate with, if the values are in synergy. It might not be now; but it may well be in the future.
Keep a positive relationship with, and view, of your competitors. It does not mean you are in constant communication, but you are open. Life and relationships are constantly evolving.
How Do You Get Through a Dark Day?
Asked by Mike Michalowicz, The Toilet Paper Entrepreneur
September 9, 2009
Run a Marathon
Run a Marathon. You’ll find it interesting and educational, both about life and yourself. When I have been through a challenge, I’ve often said, “If I can make it through this marathon, then I can make it through this challenge.”
It inspires and elevates you; and accomplishes a goal. So then yes, you can be inspired to plug through, and “accomplish” through this challenge or dark period you are facing.
How do you get through a marathon? What is the ultimate strategy?
It’s step-by-step. If you made it through the last step, you will make it through this one. The only reason you wouldn’t is if you told yourself to stop. So don’t stop. Make that next step. And the next, and the next, until you are done.
The night sets; it’s dark; but there are stars and glowing, guiding moon to help you with your way. Find the ‘brights’ in the night you are facing. It may be a long night. But remember that that sun IS coming up again tomorrow. It will come. So take that next step, and get going on that marathon.
How Can You Land Your First Client?
Asked by Mike Michalowicz, The Toilet Paper Entrepreneur
September 1, 2009
Commit to “Open the Deal,” and Make It Ongoing
It’s your potential first client. Make sure you demonstrate the multiple ways that you can help affect their business, even if you only start with one service or work with one business unit. In that way they will see you as a long-term, multi-faceted partner with whom they can expand their business relationship with in the future.
While in these meetings, be a great listener. Sales are not really about ‘closing the deal.’ Listen to their goals and painpoints. Examine if your services can address these needs. True partnerships are about long-term relationships. You never really close the deal; what you want is to cultivate a trustworthy, long-term, mutually valuable engagement. That means it is open — and ongoing.
Be Open. Commit to “Open the Deal,” and Make It Ongoing.
What Gives You Confidence?
Asked by Jen Matlack
August 28, 2009
Have a Grateful Day
What gives me confidence: Being grateful. This manifests itself in appreciating all things, and appreciating people. You will feel stronger and can live a more vibrant, caring life.
I try to state my gratefuls in the morning and the evening. The challenge now is to do it throughout the day.
Here is what a beautifully confident day can look like:
Wake up with 5 things you are grateful for. Be grateful for the beautiful rose on the walk to work, and do take time to smell them, and several times if you can. Say hello to the homeless person. Really ask your dry cleaner sincerely how they are. If it’s sunny, bask in the warmth. If it’s rainy, be grateful for the nourishment for our earth, flowers, trees and farms. Walk slowly. Take time to great your team in the morning. Before a meeting, be grateful for any positive discussion or new idea. After a meeting, be grateful for any positive advancement or development. Sit down with your children and really get into their world, playing in their realm. Cook a meal and be grateful for all the food we have here, and, that we get to choose what we eat. In many parts of the world, they don’t have the luxury of choosing. Or they quite simply don’t have enough to eat. In the evening, be silent and rest in the peace. Go over five gratefuls from your day.
These are moments, vignettes, people — all a part of your community. Weave gratitude, and recognizing others, into your daily life. You will feel strong, vibrant, more authentic, caring, and confident.
How Can You Improve Your Collections?
Asked by Mike Michalowicz, The Toilet Paper Entrepreneur
August 27, 2009
Peacefully Persistent
When you have to collect funds, it’s not an easy task. Be peaceful and persistent.
In these situations, people are usually used to anger or impatience. You can be different.
Schedule consistent messages that are kind, concise and clear. Follow up persistently, so that they know you are not going away. Be positive. Everyone wants to help someone who is nice.
Be peaceful, be persistent, and you will attain the other important “p” word — profit.
How Can You Raise Money Fast?
Asked by Mike Michalowicz, The Toilet Paper Entrepreneur
August 18, 2009
Be Inspired and Be Specific!
Any great investor is inspired by both the leader and the challenge at hand. Your job is to be upbeat; inspired, stating your request in a compelling way: “I want to build this part of our corporate product out to this segment market. It has been proven to do well for us. This is the time to move quickly and establish brand recognition, saturating this target market. They will either buy now or think of us in the future.”
Don’t fundraise from need. Fundraise from strength and specificity.
How Can You Think Out of the Box?
Asked by Mike Michalowicz, The Toilet Paper Entrepreneur
August 6, 2009
Stand On The Box
Don’t just think out of the box. Stand on the box.
Imagine yourself standing on that darn box because you have the smarts, intuition and creativity to command your organization to the next level. Imagine yourself surveying the future from the height of that box. Take a long, long distance view. What do you see? What do you hope people will be saying about your organization? In 10 years? In 50?
Now step down from the box, walk over to your desk, sit down, (or stand for those of us ancy entrepreneurs with standup desks), and get to work on your top 1-2 priorities that will bring that decade vision into reality.
It’s not out of the box, it’s on the box. Command your vision. Start thinking bigger. Look for and reach out to the horizon of your success.
How Can You Get Ready to Be an Entrepreneur?
Asked by Mike Michalowicz, The Toilet Paper Entrepreneur
August 4, 2009
Right Now. Write Now.
Start writing down your thoughts. If an executive summary is too overwhelming for you, then begin with bullet points. Separate it into vision for the company; operational business units and their function; and organizational culture. The first one goes into your executive summary for investors. The last two are how you want to organize your business and the culture you want to instill.
Don’t start without your Executive Summary. If you come across an investor interested in your verbal idea– earlier than you thought — what will you have to show him or her?
Write it down, Right Now.
How Do You Set Priorities?
Asked by Stephanie Calahan, Calahan Solutions
August 3, 2009
Don’t Settle for Jello
If you’re trying to set yourself up to succeed, it’s all about setting yourself on firm ground. Don’t settle for “Jello” priorities. Think about the top 1- 3 items that will put a stake in the ground for your business today. Ask yourself: Would I speak about this with a reporter? At the dinner table, proudly, with my significant other? If I were accepting the Nobel Prize? Seriously. It could be new corporate contracts. A large marketing partnership. Big media coverage. What would significantly change your business, and our world?
Don’t settle for wishy washy. No one wants to set their business on “jello” ground. Set it on a firm foundation by identifying and going after your few big wins, every day.
How Can You Best Break Up a Business Partnership?
Asked by Mike Michalowicz, The Toilet Paper Entrepreneur
July 30, 2009
Find a Win For Your Partner
Try to find a Win for your business partner. Could you check in with them to get their advice on a certain topic, once per quarter? Is there something of value you can provide them, that doesn’t hurt your business? Find a way for them to feel as if they gained something. They might not accept your offer, but they will appreciate being appreciated.
They were your business partner at one time and provided some type of value. Balance that value with the need to protect your business and move on.
What Lessons Have You Learned as an Entrepreneur?
July 30, 2009
Stay Open in How You Build Your Team
I was volunteering in Cambodia with people handicapped by the mines. I met a lovely Cambodian woman, and we stayed in touch. Five years later she moved to the U.S. and needed a job. She is now my data entry specialist for the past two years. She fits right in with our global culture, and coming from Cambodia, is grateful for her position. Try to stay in touch with people, as you may find future team members from all across the world.
A second lesson learned: Build your longterm team through interns. We have a full team of volunteers and interns. Those who prove themselves over time, we oftentimes convert to paid team members. It’s a great recruitment tool for us and a positive work experience for our volunteers and interns.
Be A Creative CEO
Don’t just be a workaholic. Have an outside interest. I went on a date with a guy and he took me to an Improv show. It didn’t work out with the guy, but I thought, “I wonder if I can do that!” Soon I was up on the stage. It took years of work. But, now I can make people laugh and laugh at myself.
Critically important, it helps small business communications. The intuition, selflessness, authenticity and teamwork you need on stage — are exactly what one needs to be a positive team member.
Lesson learned: Have an outside activity that makes you a better person out and in the office.
How Do You Avoid Distractions When Working From Home?
Asked by Mike Michalowicz, The Toilet Paper Entrepreneur
July 28, 2009
Balance and Value Your Tasks
Agree to get 1 or 2 major items from your list done first. Keep a positive quote in front of you to keep you motivated. Have your water bottle filled so you have no excuse to go get a drink. Set a goal: 2 hours? 3? Time lunch so it is a reward and normal break in your day. Finish the day with ‘easy’ to-dos. Finally: this is your present day, and your future. Stay on these proposals and focus. It’s not just a paper…it’s the future manifestation of your business and vision for your life!
How Can You Balance Parenthood and Entrepreneurship?
Asked by Mike Michalowicz, The Toilet Paper Entrepreneur
July 23, 2009
Be Present!
Be present. Doing both things at once (reconciling bills while trying to help your children with their latest painting) makes no one feel good. Your time for work is time for work; your time with your children is truly for them. Everyone will feel valued. Then they know when “Mommy needs to work and help people,” and “Yay! Mommy is all mine!” Be present.
If you have a newborn, then that’s not necessarily always the case. You can reconcile the books, talk to client with your baby if you feel it is not disruptive… but even then, divided attention can show through. So strive to be ‘in the moment’ with each person you are with.
How Can You Gain Confidence as an Entrepreneur?
Asked by Mike Michalowicz, The Toilet Paper Entrepreneur
July 14, 2009
Gratitude Brings Confidence
Be grateful. We’re in a country where red tape is low, entrepreneurship is encouraged, and creativity is part of the American way. Many countries don’t encourage an entrepreneurial culture, and we have it.
Gratitude for being able to start a business, gratitude for the freedom to decide where to work, gratitude for the ability to work, to decide where we live, to decide which healthcare plans we’d like (again, all in comparison to how other countries operate, and specifically developing nations) makes us realize…
How much we have.
This gives us a humble confidence to continue pursuing our dreams, step by step.
Gratitude brings a sense of joy, peace and then confidence so that we can maintain our course. Go for it – - and be grateful along the path!
How Can You Overcome a Business Challenge?
Asked by Mike Michalowicz, The Toilet Paper Entrepreneur
June 16, 2009
Find Something Going Well
To get unstuck, I would truly live in the present moment. Right now, can I think a positive thought? What is going well? No matter how tough it gets, there has to be some thing that is going well. We can even resort to nature. Thank you that the sun is shining. Thank you that I have a great father, or wonderful relationship with my sister. Thank you that I have a wonderful new bed that allows me to sleep peacefully. Thank you for the rosebush on the street, that blooms so radiantly, and is free for all of us to smell and enjoy. If you are in America, thank you that I have the right to vote, that I have the right to choose hundreds of places to eat from everyday.
You will realize your wealth – your true wealth — and more will come.
For the challenges that seem to keep you stuck, remember, it will pass. The mountain will pass and at some point, you get to start walking downhill. So keep climbing, keep being grateful, and…. keep going.
My 97 year old Oma and grandmother, one of my best friends once told me,” Whenever I feel down I find something to be grateful for, and I find someone else who is in a worse situation and help them. It helps me be grateful.”
To get unstuck: Find something to be grateful for.
How Can You Find a Hidden Talent?
Asked by Mike Michalowicz, The Toilet Paper Entrepreneur
June 10, 2009
Take an Improv Class
An Improv Class will encourage you to think across so many genres: different movies, countries, accents, periods of time. Then you must become what is needed for the scene: an alien, an 18th century aristocrat, a 60 year old truck driver, a 5 year old girl. Get your different voices out, walk with a certain gait, dance, sing. Transform yourself on stage, and you will discover more passions and hidden talents within!
How Do You Stay Focused?
Asked by Mike Michalowicz, The Toilet Paper Entrepreneur
May 28, 2009
Envision the World You’ll Create
Do not get overwhelmed by all there is to do. Quickly picture what you hope to achieve: Envision it, imagine yourself standing there, amidst all of your products or happy customers, or actually seeing and living how you want to change the world…be in that world and know that it exists. Allow yourself minutes to feel this and experience it, then come out of this state of mind and pull out a pad of paper. Write down at the top: Motive to Serve the World by Doing X” and then write the Top 3 Must Dos for the Day, and the Top 5 Hope I Get To Them. Start Doing!
What’s Your Best Advice for Growing a Business?
Asked by Mike Michalowicz, The Toilet Paper Entrepreneur
May 21, 2009
Entrepreneurial Minds
An entrepreneur of a small company who wants to grow it doesn’t have to hire like minded entrepreneurs, but they do have to hire entrepreneurial people. There’s a critical difference between being an entrepreneur (who is also entrepreneurial) and hiring entrepreneurial people. Entrepreneurial people don’t necessarily want to start their own organization, or necessarily have visionary ideas, but they are willing to do what it takes, create systems on the spot, not get scared off by the fact that certain processes aren’t yet in place (in fact they relish creatively creating them). Your team can’t just be willing to do one thing.
How Can You Become an Entrepreneur?
Asked by Mike Michalowicz, The Toilet Paper Entrepreneur
March 25, 2009
Like Raising a Child
Any good entrepreneur has to have passion and perseverance. You have to absolutely love it, live it, nourish it, cherish it. It’s like a child in that there are exhilarating highs and lows, but worth it all. Second perseverance. Run that marathon. And run another one. And then another. This is not a 5K and most certainly not a the 100 yard dash.
